Navegó a una página que no está disponible en español en este momento. Seleccione el enlace si desea ver otro contenido en español.

Página principal

Refinance Rate Assumptions and APR Information

                    Print

  Apply online

Our simplified mortgage application will walk you through each step.


Apply Now

  Explore your options

Have us contact you to discuss your refinancing goals.


Get Started

Talk to a consultant

Fully Indexed Payment

The amount of the principal and interest payment calculated when using the fully indexed rate.

Fully Indexed Interest Rate

The fully indexed interest rate is equal to the margin plus the index (an economic indicator used to determine changes in the interest rate).

First Adjusted Payment

After the end of the initial fixed-rate period, the first adjusted payment reflects the new principal and interest payment that's due each month on an adjustable-rate mortgage. Future payments can’t be predicted, so it’s estimated using the first adjusted interest rate. Interest rate adjustments may significantly increase or decrease the payment amount due.

First Adjusted Interest Rate

Estimate of the new interest rate on an adjustable-rate loan when it first adjusts after the fixed-rate period. Future rates can't be predicted, so it's estimated by adding the current index rate to the margin (subject to first adjustment cap).

Jumbo

A loan that exceeds Fannie Mae's and Freddie Mac's loan limits. Also called a non-conforming loan.

Larger Loan Amounts in Eligible Areas

In federally designated metropolitan areas, conventional and government loan limits have been increased to assist homebuyers.

Government

A loan that is either backed by the Federal Housing Administration (FHA) or a VA loan for eligible service members and veterans.

Conventional Conforming Mortgage

Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC).

Annual Percentage Rate (APR)

The cost to borrow money expressed as a yearly percentage. For mortgage loans, excluding home equity lines of credit, it includes the interest rate plus other charges or fees. For home equity lines, the APR is just the interest rate.

Interest Rate

The cost a customer pays to a lender for borrowing funds over a period of time expressed as a percentage rate of the loan amount.